IDEAS home Printed from https://ideas.repec.org/a/rss/jnljms/v7i1p5.html
   My bibliography  Save this article

International Monetary Fund Economic Indicators and Economic Growth in Nigeria

Author

Listed:
  • A. C. Onuorah
  • Ozurumba Benedict Anayachukwu

Abstract

International Monetary Fund economic indicators for developing and developed nations’ performance are very critical to the survival of any nation. This paper focused on the determinant of macroeconomic indicators of IMF performances on Nigeria Economic growth. Secondary data were sourced from the CBN statistical bulletin, 2015. Various econometric techniques were used to analyze the data. The variables violated OLS but were stationary and co integrated at most 2*. VAR model estimate suggested that exchange rate stability contributed significantly to the growth of Nigeria economic. External debt outstanding performances positively on the GDP but it is not too healthy for the Nigeria state as borrowing over the years have not contributed significantly to the infrastructural development and effective services. Finding also confirmed that unemployment has negative impact on GDP and that long run relationship between unemployment and GDP indicating that employment drives the economy of the nation based on the IMF performance measures. The study recommended that for Nigeria to survive the present economic looming crisis there is need for the economic team of the present government to look inward by way of diversifying the economic, improving the external reverse ratio through mopping up corruption to reduce debt. Effort to pay off some of the debt for economic dependence is very important as it will encourage local industries to survive which in turn increase export earning to the country. Upon all, employment generation is very crucial to the GDP.

Suggested Citation

  • A. C. Onuorah & Ozurumba Benedict Anayachukwu, 2016. "International Monetary Fund Economic Indicators and Economic Growth in Nigeria," International Journal of Management Sciences, Research Academy of Social Sciences, vol. 7(1), pages 30-37.
    • Handle: RePEc:rss:jnljms:v7i1p5
    as

    Download full text from publisher

    File URL: http://rassweb.org/admin/pages/ResearchPapers/Paper%205_1497444340.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Vreeland,James Raymond, 2003. "The IMF and Economic Development," Cambridge Books, Cambridge University Press, number 9780521016957, September.
    2. Syed Ali Raza, 2015. "Foreign direct investment, workers’ remittances and private saving in Pakistan: an ARDL bound testing approach," Journal of Business Economics and Management, Taylor & Francis Journals, vol. 16(6), pages 1216-1234, December.
    3. Graham Bird & Dane Rowlands, 2007. "The IMF and the mobilisation of foreign aid," Journal of Development Studies, Taylor & Francis Journals, vol. 43(5), pages 856-870.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Songying Fang & Erica Owen, 2011. "International institutions and credible commitment of non-democracies," The Review of International Organizations, Springer, vol. 6(2), pages 141-162, July.
    2. Mr. Calixte Ahokpossi & Laurence Allain & Giovanna Bua, 2014. "A Constrained Choice? Impact of Concessionality Requirements on Borrowing Behavior," IMF Working Papers 2014/176, International Monetary Fund.
    3. Kentikelenis, Alexander E. & Stubbs, Thomas H. & King, Lawrence P., 2015. "Structural adjustment and public spending on health: Evidence from IMF programs in low-income countries," Social Science & Medicine, Elsevier, vol. 126(C), pages 169-176.
    4. Randall Stone, 2013. "Informal governance in international organizations: Introduction to the special issue," The Review of International Organizations, Springer, vol. 8(2), pages 121-136, June.
    5. Odeyemi Gbenga A., 2015. "Understanding the Dynamics between Income and Health: Evidence Form African’s Richest and Poorest Countries," Journal of Public Policy & Governance, Research Academy of Social Sciences, vol. 2(2), pages 56-67.
    6. Ali Burak Güven, 2012. "The IMF, the World Bank, and the Global Economic Crisis: Exploring Paradigm Continuity," Development and Change, International Institute of Social Studies, vol. 43(4), pages 869-898, July.
    7. Patrick Hamm & David Stuckler & Lawrence King, 2006. "Mass Privatization and the Postcommunist Mortality Crisis," Working Papers wp118, Political Economy Research Institute, University of Massachusetts at Amherst.
    8. Daoud, Adel & Johansson, Fredrik, 2019. "Estimating Treatment Heterogeneity of International Monetary Fund Programs on Child Poverty with Generalized Random Forest," SocArXiv awfjt, Center for Open Science.
    9. Valentina VASILE & Daniel ŞTEFAN & Călin-Adrian COMES & Elena BUNDUCHI & Anamari-Beatrice ŞTEFAN, 2020. "FDI or Remittances for Sustainable External Financial Inflows. Theoretical Delimitations and Practical Evidence using Granger Causality," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(4), pages 131-153, December.
    10. Bumba Mukherjee & Benjamin E. Bagozzi, 2013. "The IMF, Domestic Public Sector Banks, and Currency Crises in Developing States," International Interactions, Taylor & Francis Journals, vol. 39(1), pages 1-29, January.
    11. Mr. Eugenio M Cerutti, 2007. "IMF Drawing Programs: Participation Determinants and Forecasting," IMF Working Papers 2007/152, International Monetary Fund.
    12. Stephan Kaplan, 2016. "partisan Technocratic Cycles in Latin America," Working Papers 2016-28, The George Washington University, Institute for International Economic Policy.
    13. Emilie M. Hafner-Burton & Jana von Stein & Erik Gartzke, 2008. "International Organizations Count," Journal of Conflict Resolution, Peace Science Society (International), vol. 52(2), pages 175-188, April.
    14. John Ahlquist & Aseem Prakash, 2010. "FDI and the costs of contract enforcement in developing countries," Policy Sciences, Springer;Society of Policy Sciences, vol. 43(2), pages 181-200, June.
    15. Stephen B. Kaplan & Kaj Thomsson, 2014. "The Political Economy of Sovereign Debt: Global Finance and Electoral Cycles," Working Papers 2015-1, The George Washington University, Institute for International Economic Policy.
    16. Henry Waleru Akani & Lucky Anyike Lucky & Kingsley Cheta Uzah, 2016. "Financial Sector Development and Macro-Economic Stability in Nigeria: A Long- Run Analysis," International Journal of Empirical Finance, Research Academy of Social Sciences, vol. 5(2), pages 112-128.
    17. Nathan M. Jensen, 2004. "Crisis, Conditions, and Capital," Journal of Conflict Resolution, Peace Science Society (International), vol. 48(2), pages 194-210, April.
    18. Dreher, Axel & Jensen, Nathan M, 2007. "Independent Actor or Agent? An Empirical Analysis of the Impact of U.S. Interests on International Monetary Fund Conditions," Journal of Law and Economics, University of Chicago Press, vol. 50(1), pages 105-124, February.
    19. Stephen B. Kaplan & Kaj Thomsson, 2014. "The Political Economy of Sovereign Borrowing: Explaining the Policy Choices of Highly Indebted Governments," Working Papers 2014-10, The George Washington University, Institute for International Economic Policy.
    20. Stubbs, Thomas & Kentikelenis, Alexander & Stuckler, David & McKee, Martin & King, Lawrence, 2017. "The impact of IMF conditionality on government health expenditure: A cross-national analysis of 16 West African nations," Social Science & Medicine, Elsevier, vol. 174(C), pages 220-227.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rss:jnljms:v7i1p5. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Danish Khalil (email available below). General contact details of provider: http://www.rassweb.org .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.